At Extreme Investor Network, we strive to bring you the latest and most relevant information in the world of cryptocurrency and blockchain technology. Recently, digital asset investment products experienced a significant uptick in inflows, totaling an impressive $321 million. This surge followed a 50 basis point interest rate cut by the Federal Reserve, as reported by CoinShares.
Bitcoin (BTC) emerged as the primary beneficiary of these inflows, attracting a substantial $284 million. Interestingly, the recent price movements also sparked inflows into short-bitcoin investment products, with $5.1 million in investments.
From a regional perspective, the United States led the pack with inflows of $277 million. Switzerland followed closely behind with the second-largest weekly inflows of the year, totaling $63 million. However, countries like Germany, Sweden, and Canada experienced outflows of $9.5 million, $7.8 million, and $2.3 million, respectively.
On the flip side, Ethereum (ETH) continued to lag behind, witnessing outflows for the fifth consecutive week, totaling $29 million. The ongoing outflows from the Grayscale Trust and limited inflows from newly issued ETFs were cited as the primary reasons for this trend. Despite this, Solana investment products maintained steady weekly inflows, amounting to $3.2 million.
Overall, the assets under management (AuM) in the digital asset space saw a commendable 9% growth, with total investment product volumes reaching $9.5 billion, up 9% from the previous week.
For a more in-depth analysis of this data, we recommend checking out the full report on CoinShares. Stay tuned to Extreme Investor Network for more insights and updates on the ever-evolving world of cryptocurrency and blockchain technology.
(Image source: Shutterstock)